Three-year Finding &Development costs among Canadian drillers averaged $10.96
One of the most fundamental goals of an oil and gas company is replacing reserves. If a company is unable to replace reserves effectively, it in essence has a finite life span. Why? Because draining a formation of hydrocarbons eliminates your reserves.

Excluding the effects of price fluctuations and asset sales, oil and gas companies continuously produce from reserves. The ability to replace this production, whether through the drill bit or transactions, is cr...

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